Budget & Taxes (Business Taxes)

This bill provides tax relief for small businesses by creating a graduated corporate tax rate, where businesses with taxable income under $5 million would pay 18% on the first $400,000 of income and 21% on the remainder. It establishes special tax treatment for investment management services provided through partnership structures, reclassifying certain capital gains and losses as ordinary income or loss for these specific partnerships. The bill also includes an enhanced deduction for lower-income self-employed individuals with adjusted gross income under $400,000 and increases the excise tax on corporate stock repurchases from 1% to 1.5%. These provisions primarily affect small businesses, small business owners, and investment management professionals operating through partnership structures.

HR 1707, the Grown in America Act of 2025, creates a new tax credit for agricultural businesses that use predominantly domestically produced inputs. The credit equals 25% of a business's domestic agricultural input costs (capped at $100 million annually), but only if the business meets a 3-year average threshold for domestic sourcing (starting at 50% in 2026 and rising to 85% after 2033). It directly affects food and agricultural producers who source inputs like crops or fish raised in the U.S. for products sold domestically without further processing. The bill defines "domestic agricultural input costs" as expenses for U.S.-produced commodities used in U.S.-made food products, excluding certain commodities listed by the Secretary of Agriculture.

HR 2534, the Paying a Fair Share Act of 2025, would impose a new tax on individual taxpayers with adjusted gross income exceeding $1 million (adjusted annually for inflation), effective for tax years beginning after 2024. The tax rate would be 30% of the amount by which a taxpayer's income exceeds $1 million, after accounting for charitable contributions. This provision applies only to individuals (not corporations) and is projected to generate significant revenue by requiring the highest earners to pay a larger share of taxes, with sponsors estimating it would reduce the federal deficit by billions annually.

HRES 1028 is a non-binding House resolution expressing the House's position that the U.S. must address billionaire economic and political influence. It calls for halting corporate tax breaks and subsidies, increasing taxes on the wealthy and corporations, and redirecting funds toward public services like healthcare, housing, and climate initiatives. As a resolution, it does not create new laws but states the House's view that concentrated wealth undermines democracy and requires policy changes to prioritize working people. It specifically references actions like breaking up corporate monopolies and expanding union support as part of this vision.

HR 1873, the Broadband Grant Tax Treatment Act, excludes certain federal broadband grants from taxable income for recipients. It directly affects entities (like internet providers or local governments) receiving qualifying grants under specific programs, including the Broadband Equity, Access, and Deployment Program and State Digital Equity Capacity Grants established by the Infrastructure Investment and Jobs Act. The bill prevents double tax benefits by disallowing deductions for expenses covered by these excluded grants and reduces the adjusted basis of related property. This change applies to grants received in taxable years ending after March 11, 2023.